The Trump Administration's tariffs on Canadian lumber are passing costs down to homebuyers, according to industry experts.
"Higher lumber costs, labor shortages and growing regulations are holding U.S. builders back as they try to ramp up construction to meet the huge demand for housing," reports Steve Brown.
Brown is sharing information from the National Association of Home Builders: "builders around the country are forecast to construct almost 910,000 houses this year and increase production to 1 million homes by 2020." Last year the industry "starting about 850,000 single-family homes nationwide…" Robert Dietz, chief economist of the National Association of Home Builders, says that pace is under-building to meet demand.
Dietz credits the high cost of land in slowing housing starts, saying labor shortages have been more commonly responsible for the industry's sluggish pace in the past. Materials are also driving up costs. "A spike in lumber prices caused by the Trump administration's tariffs on Canadian wood products is one of the biggest burdens on builders, Dietz said." Dietz also said that the lumber tariffs are driving up the cost of a new home by $9,000.
FULL STORY: U.S. builders say Trump's tariffs are adding $9,000 to new home price, and that's not all
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
How California Transit Agencies are Addressing Rider Harassment
Safety and harassment are commonly cited reasons passengers, particularly women and girls, avoid public transit.
Significant Investments Needed to Protect LA County Residents From Climate Hazards
A new study estimates that LA County must invest billions of dollars before 2040 to protect residents from extreme heat, increasing precipitation, worsening wildfires, rising sea levels, and climate-induced public health threats.
Federal Rule Raises Cost for Oil and Gas Extraction on Public Lands
An update to federal regulations raises minimum bonding to limit orphaned wells and ensure cleanup costs are covered — but it still may not be enough to mitigate the damages caused by oil and gas drilling.
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